[bezusheist]

here are 3rd party stats showing what happens with the normalizing process...
the process was:
generate 0 dBFS source file @ 64 bit float (render)> clip symmetrically to -0 dBFS (render)> gain down 50% to -6.02 (render)> item processing "normalize items" (render)
all files were rendered at 24 bit integer (no dither).
i have tried this same test using all 64 bit float files as well, and the results are basically the same. (normalizes to same value, not 0dBFS)

afclip stats

source file
2_pulses_0dBFS_sym_clip_24bit.wav
1 ch, 44100 Hz, 'lpcm' (0x0000000C) 24-bit little-endian signed integer
-- no samples clipped --

SoX stats

source file:
2_pulses_0dBFS_sym_clip_24bit.wav

DC offset 0
Min level -8388607
Max level 8388607
Pk lev dBFS -0.00

attenuated 50% (spl0*0.5)
2_pulses_half_power_sym_clip_24bit.wav

DC offset 0
Min level -4194304
Max level 4194304
Pk lev dBFS -6.02

normalized in Reaper
2_pulses_half_power_sym_clip_24bit_normalized.wav

DC offset 0
Min level -8380219
Max level 8380219
Pk lev dBFS -0.01*

*actual value is more like -0.00869...+/- dBFS

i attached all of the test files just to "properly" document this with some actual "evidence".